国家能源局启动新型电力系统首批试点！绿电、智能电网、储能等方向或受益(附概念股)

Group 1: New Power System Development - The National Energy Administration has initiated pilot projects focusing on seven areas including grid technology, friendly renewable energy stations, smart microgrids, and virtual power plants to explore new technologies and models for building a new power system [1] - By 2025, the goal is to establish a nationwide unified electricity market, with a focus on enhancing the top-level design and basic rule system for the electricity market [1][2] - The new power system is characterized by a dominant position of renewable energy sources such as onshore wind, offshore wind, solar power, and new energy storage [1] Group 2: Electricity Consumption and Market Trends - In April, the total electricity consumption reached 772.1 billion kWh, a year-on-year increase of 4.7% [2] - By 2025, the total electricity consumption is projected to reach 10.4 trillion kWh, with a growth rate of approximately 6% [2] - The demand for electricity is expected to rise due to the rapid growth of AI computing needs and the development of electric vehicles [2] Group 3: Virtual Power Plants and Energy Storage - The National Development and Reform Commission and the National Energy Administration have issued guidelines to accelerate the development of virtual power plants, aiming for a regulation capacity of over 20 million kW by 2027 and 50 million kW by 2030 [3] - New energy storage is identified as a crucial technology for building a new power system and achieving carbon neutrality goals, with a target of reaching a cumulative installed capacity of 73.76 million kW by the end of 2024 [3] Group 4: Investment and Market Environment - In 2024, multiple policies are expected to create a stable market environment for renewable energy operators, leading to a stabilization of the industry [4] - The investment in the power grid is anticipated to maintain a growth rate of over 10% in 2025, driven by the transition towards carbon neutrality and balanced investment in main grid and distribution segments [4] Group 5: Company Performance Highlights - China Resources Power (00836) has seen an upward adjustment in earnings forecasts for 2025 due to lower fuel costs, with a target price increase from HKD 20.5 to HKD 21.5 [5][6] - Huadian International Power (01071) reported a 3.7% increase in net profit for Q1, benefiting from a 9.7% decrease in standard coal costs [6] - Datang Renewable (01798) achieved a 15.47% increase in power generation in April 2025 compared to the previous year, with significant contributions from wind and solar power [7]